UK-based consumer products company PZ Cussons has reached an agreement to divest its Nigerian dairy business Nutricima to FrieslandCampina WAMCO Nigeria.

Financial details of the transaction have not been divulged by either of the companies.

Nutricima manufactures and distributes beverages in Africa. Its product portfolio includes milk and yoghurt based drinks such as Nunu, Yo, and Olympic.

Under Nunu brand, the company offers a wide range of powdered, evaporated and ready-to-drink (RTD) milk beverages, while under Yo brand the company offers yoghurt drinks, as well as an RTD yoghurt range.

PZ Cussons exchanged sale agreements of the assets associated with Nutricima’s business with FrieslandCampina WAMCO Nigeria, an affiliate of Dutch multinational dairy cooperative Royal FrieslandCampina.

Completion of the deal is subject to receipt of regulatory approvals in Nigeria.

In addition to this deal, PZ Cussons completed the sale of its Polish personal care brand Luksja to Athens based personal care company Sarantis Group.

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As part of the deal, Sarantis has also agreed to distribute certain PZ Cussons’ brands including Carex, Original Source and Morning Fresh in Poland and Central and Eastern Europe.

PZ Cussons executive chair Caroline Silver said: “The proposed sale of Nutricima and the sale of Luksja are further steps forward under our ‘Focus, Scale and Accelerate’ strategy, as we continue to streamline the Group to focus investment on core personal care and beauty brands.

“This will enable us to deliver higher-margin earnings, in geographies which can scale, and support the return of the Group to sustainable, profitable growth.”